As of press time, the Argentina province of Chubut was approaching the finish line for the issuance of a $150 million deal backed by oil and gas royalties.

Interestingly enough, earlier in June, Fitch Ratings had put out an affirmation of its 'B' rating on $234 million of royalty-backed notes originated by the province of Salta. What that transaction has gone through since the country's epic default in late 2001 could prove instructive for buyers of Chubut, which should include both cross-border and local folk.

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